XAUUSD: Short Setup In the Money, what to look for now (Medium Term)

Pre-Requisite Reading: GLD, The Bullish Case for Gold

On our yesterday's post regarding a possible short setup on the yellow metal, keeping in mind the long term overview of XAUUSD, we were expecting the upper line of the triangle to be respected. Volatility caused by the ECB press conference helped gold make a new high for the week, however it failed to invalidate our stop loss level (for the short position), at March 11 high.

 Another confirmation in favor of the short swing play was the failure ... Read More